Lumbini Development Bank's net profit increased by 15.5 percent

Nov Sat 2020 02:16:52

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Lumbini Development Bank's net profit increased by 15.5 percent

The bank has increased its net profit by Rs. 14.9 million in the same period of the current fiscal year as compared to the first quarter of the last fiscal year.

The bank has managed to earn a net profit of Rs. 111.7 million in the same period of the current fiscal year as it earned a net profit of Rs. 96.7 million in the first quarter of last fiscal year.

The bank's distributable profit for the period was Rs 21.1 million.

The bank has collected Rs 32.44 billion in deposits and disbursed Rs 25.45 billion in loans during the period up to mid-October of the current fiscal year.

The bank's net interest income declined by 18.70 percent during the period. Net interest income of the bank, which was Rs 306.9 million in the first quarter of last fiscal year, has decreased by Rs 57.4 million to Rs 249.5 million in the same period of the current fiscal year.

Compared to the first quarter of last year, the NPL ratio has increased by 0.36 percent to 2.36 percent. During the same period, the bank's earnings per share stood at Rs 16.45 and net worth per share stood at Rs 160.98.

The bank has a base rate of 9.67 percent, a spread rate of 5.15 percent and a CCD ratio of 73.15 percent.